Social Trader Review
Automated systems have become common place in the binary industry. However, the Social Trader brings an exciting new element to the equation. The idea of social trading; utilizing the knowledge of experienced traders, is starting to take off and hints at some promising returns. The issue is whether the Social Trader is the system you should be using or not.
Introduction to the Social Trader Robot
The Social Trader reckons a trader can earn just under twenty five thousand dollars in just one week. This seems like an unrealistic figure and hints at a Social Trader scam. The software is free to use and offers returns of 100%; it appears to be simple to grasp and provides alerts when you should be trading and what trades you should be placing. It even claims to cover a large area of the market.
Unfortunately Social Trader does not have a live chat function which would be extremely beneficial. It is also necessary to download the software and there are very few details in relation to the business and how the trades are calculated. Trading in binary options is risky and can be complicated, this software seems to suggest that it is an easy process and this raise the concerns that it is a Social Trader scam. However, the Social Trader robot is a relatively new product and must be given the chance to prove itself.
Using Social Trader Automated Trading Software
The Social Trader tells you the system is free but only for a select number of people. In this case the counter on the website says fifteen and has done for a long time. In fact, it is simply a scare tactic to encourage you to sign up without doing your research.
The process of signing up is standard; register with Social Trader, enroll with an approved broker and deposit your initial funds. You can then adjust the trade parameters on your Social Trader account and let the Social Trader robot do its job.
Conclusion – Is this a Social trader Scam?
In truth it is possible that this is a Social Trader scam. However, it is also possible it is a genuine offering. The lack of information and proof of the claims makes it impossible to confirm either way. As the features are relatively basic and the system unproven you would be best to utilize a service with a better reputation and established history.